Dutch home sales and prices continue to rise

Since June 2013 the number of sales of existing homes has been growing fast and steadily, with only one big interruption in the first quarter. As a result, house prices have also been growing in the past year and a half, albeit at a slower pace than sales. Just like in 2012, the recent peak and drop in sales around the turn of the year resulted from changing tax regulations and credit standards. Stricter rules pushed buyers to buy their homes before the rules were being implemented. 

The second quarter rebound in home sales now has confirmed the underlying trend of growth in housing market activity. Figures from the Dutch Association of Real Estate Brokers (NVM) on pending home sales point to further growth in the third quarter. 

"We expect home sales to grow further in the remainder of this year and to stabilise in 2016. House price growth is expected to accelerate somewhat next year, but will remain modest compared to the decade before the crisis erupted," notes Rabobank.